Bitcoin surpasses the market capitalization of Visa as it sails pass 15,000.00USD per coin mark. At the time of writing, 1 Bitcoin was currently price at $15,464.40 USD according to CoinMarketCap with a market capitalization of $258,655,033,703 USD and a staggering 24 hour trading volume of $13,957,100,000 USD. The momentum is definitely on Bitcoin side as it flow pass Citigroup yesterday and now has taken down Visa. Visa currrent market capitalization stands at 248.98 Billion USD.

Bitcoin Stats

Perspectives and Thoughts on surpassing Visa

Bitcoin surpassing Visa is probably its greatest achievement for 2017, and the list of achievements is very impressive. Visa is one of the global payment technology company trying to achieve some of the objectives of Bitcoin, as it enables businesses, consumers, banks, governments and people in more than 200 countries and territories to transact using 'digital currency'.

It's platform operates on a open loop global payment network that prevent double spending, allowing it to be the central authority providing authorization, clearing and settlement of electronic 'digital' payment/ transfer. Interestingly, its operation highlights the value of 'Trust', as participants agree that transactions are valid because it has been authenticated by Visa. This concept has certainly paid off well for Visa, Mastercard and Paypal that offer services of a similar nature. A closer look at Visa charts can point to similarities to Bitcoin while not as parabolic as Trust continues to gain value.

Worthy of note, Visa generates revenue by charging fees to its customers base on the dollar volume and number of transactions processed per card of customer as consumers continue to use the service because of its ease of use, quick transaction and "relatively" (pitch of salt) cheap transaction.

From the above data, one can easily see the value of putting customers first, it isn't rocket science and probably something we all can digest as other digital currency tries to perform like Bitcoin has.

This momentous achievement of Bitcoin certainly puts it in the spot light as market share could be taken away from the likes of Visa, MasterCard and PayPal if Bitcoin can do the basics right. When I say basics it entails fast transaction, cheap fees and improving customer experience. Another milestone achieve is the fact that the "Decentralization" and blockchain technology continues to show its value. We all can participant in an open and fair environment without the need for "Central" authority or middle men with a history of taking a big piece of the pie.

Interesting to note, Bitcoin has achieve all of this with transaction time and cost at an all time high as I believe the greatest asset of Trust stands strong with it. While one may argue that short term catalyst like CBOE and CME Futures may be added fuel, one can look at Visa all-time chart and realize that if improvements are made and customer centered approach is prioritized while maintaining the mechanics behind Bitcoin the long-term future is definitely promising as Bitcoin offer more than of medium/ platform of exchange but also as a "store of value" and "be a unit against which to value other goods".

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Sources

https://coinmarketcap.com/currencies/bitcoin/
https://www.marketwatch.com/investing/stock/v
http://www.nasdaq.com/symbol/v/historical